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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1801 Wittington Pl Farmers Branch, TX 75234-1993

    • Office buildings
    • 100,000 SF
    • 4.97 lot acres
    OFF-MARKET
    Value Estimations
    $12,395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4996367
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1801 Wittington Pl

    Year built
    2020
    Construction
    TILT-UP CONCRETE
    Lot size
    4.97 lot acres
    Property size
    100,000 SF
    Property type
    Office buildings
    APN
    24116030010010000
    APU
    24116030010010000

    Description

    This exceptional 96,592-square-foot, four-story Class B office building presents a compelling value-add investment opportunity. Constructed in 2021, the property boasts high-quality finishes and timeless architecture, situated on a fee-simple ownership basis. Currently at 17.1% occupancy with two tenants, this multi-tenant building offers significant upside potential through lease-up. Located at 1801 Wittington Pl, Farmers Branch, TX 75234, in the desirable Las Colinas submarket of Dallas County, this property benefits from its strategic location near major transportation arteries: Hwy 161, Interstate 635, and I-35. The strong market fundamentals of the Dallas MSA, including a talented workforce, business-friendly environment, and low cost of living, contribute to the property's potential for increased occupancy and predictable returns. The building's prime location within a high-growth area, coupled with its pricing significantly below replacement cost, makes it an attractive proposition for owner-users or investors seeking value-add opportunities in a thriving Texas market. This single building offers a unique chance to capitalize on the ongoing growth and demand in the Dallas-Fort Worth area. The property is priced to offer significant upside potential through increased occupancy and strong market conditions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,373,000
      Market price range: $1.58M - $13.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,945,000
      Current use
      RESTAURANT
      $15,185,000
      Change: +91% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $11,760,000
      Change: +48% Conversion: Difficult
      MEDICAL BUILDING
      $8,950,000
      Change: +13% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Farmers Branch
    County
    Dallas
    State
    Texas
    Longitude
    -96.918
    Latitude
    32.9179
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $382,857
    $1,730,550
    $16,519,450
    $18,250,000
    -
    $1,730,550
    $16,519,450
    $18,250,000

    Comparable in this City

    • Value Estimation
      $820,000
      16,610 SF

      14465 Webb Chapel Rd

      OFFICE BUILDING • 16,610 SF
      14465 Webb Chapel Rd, Dallas, TX 75234-3659
      View Details
    • Value Estimation
      $8,125,000
      168,582 SF

      1990 Wittington Pl

      OFFICE BUILDING • 168,582 SF
      1990 Wittington Pl, Farmers Branch, TX 75234-1904
      View Details
    • Value Estimation
      $640,000
      11,075 SF

      3434 Frst Ln

      OFFICE BUILDING • 11,075 SF
      3434 Frst Ln, Dallas, TX 75234-7767
      View Details
    • Value Estimation by Request
      2,904 SF

      2718 Hollandale Ln

      OFFICE BUILDING • 2,904 SF
      2718 Hollandale Ln, Farmers Branch, TX 75234-2035
      View Details
    • Value Estimation by Request
      2,590 SF

      2638 Vly Vw Ln

      OFFICE BUILDING • 2,590 SF
      2638 Vly Vw Ln, Farmers Branch, TX 75234-6245
      View Details
    • Value Estimation by Request
      6,300 SF

      2723 Vly Vw Ln

      OFFICE BUILDING • 6,300 SF
      2723 Vly Vw Ln, Farmers Branch, TX 75234-4987
      View Details

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      Corners Shopping Center: Prime Retail Space

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      Land Available on Stemmons Freeway

      Land for sale located on Stemmons Freeway in Farmers Branch.
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    Similar Nearby for Lease

    • Contact for pricing
      13,851 SF

      Office Space in Four Hickory

      Office space for lease in a park-like setting.
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      Office Space in Farmers Branch

      Office space for lease in a mixed-use development.
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      View Details
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      Park Forest Office: Dallas, TX

      Prime Dallas Office Space: Multiple Suites Available
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    • $20 SF/Yr
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      Two Colinas Crossing Office Space

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      Ford Road Office Complex

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      Office Space with Amenities

      Office space available for rent with tenant amenities.
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      View Details
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    Farmers Branch, TX 75234-1993
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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